The inflatable penis ring is a device facilitating attachment of medical appliances to the penis. The device comprises an annular ring having an internal and external diameter. An array of inflatable balloons is evenly spaced around the internal diameter of the ring. A pressure control is provided to inflate or deflate the array of balloons as desired. Either air or liquid may be employed as an inflation medium. Inflation of the balloons, functions to efficiently and comfortably hold the ring in place on the penis. A rim or sleeve is mounted on the ring. Medical appliances may be attached to the rim.